Needham & Company Downgrades Synacor (SYNC) to Hold; Valuation Call...Sort Of
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Price: $3.55 -3.53%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade SYNC Now!
Needham & Company downgraded Synacor (NASDAQ: SYNC) from Buy to Hold.
Analyst, Laura Martin, said, "We are downgrading SYNC because it has hit our 1-year target price. We suspend our target price, as we do with all Hold-rated stocks...We note that SYNC has exceeded expectations since becoming a public company in February of 2012. SYNC has over-delivered estimates twice and has raised guidance twice. We see growing momentum behind TV Everywhere and we think that SYNC is uniquely positioned to benefit from this trend. With the purchase of Carbyn, SYNC addressed its key strategic gap -- mobile. We like SYNC but bow to the discipline of our target price."
For an analyst ratings summary and ratings history on Synacor click here. For more ratings news on Synacor click here.
Shares of Synacor closed at $13.34 yesterday, with a 52 week range of $4.75-$15.00.
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Analyst, Laura Martin, said, "We are downgrading SYNC because it has hit our 1-year target price. We suspend our target price, as we do with all Hold-rated stocks...We note that SYNC has exceeded expectations since becoming a public company in February of 2012. SYNC has over-delivered estimates twice and has raised guidance twice. We see growing momentum behind TV Everywhere and we think that SYNC is uniquely positioned to benefit from this trend. With the purchase of Carbyn, SYNC addressed its key strategic gap -- mobile. We like SYNC but bow to the discipline of our target price."
For an analyst ratings summary and ratings history on Synacor click here. For more ratings news on Synacor click here.
Shares of Synacor closed at $13.34 yesterday, with a 52 week range of $4.75-$15.00.
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